ABS

Oncor RRB better late than never: No longer named Oncor…

Published May 24, 2004 12:00 AM EDT 4 Min Read

The issuer formerly known as Oncor Electric made its long-awaited return to the ABS market late last week, announcing a $790 stranded cost ABS expected to price this week. After the transaction was renamed to TXU Electric Delivery Transition Bond 2004-1 from the initial Oncor Electric Delivery Transition Bond 2004-1, investors saw one of the more structurally distinctive offerings in some time.

The name change, partially blamed for the longer-than-anticipated ramp- up period, was reportedly part of a larger plan of new TXU CEO C. John Wilder to rebrand TXU’s numerous subsidiaries under one umbrella.

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